UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number811-21852
Columbia Funds Series Trust II
(Exact name of registrant as specified in charter)
225 Franklin Street
Boston, Massachusetts 02110
(Address of principal executive offices) (Zip code)
Christopher O. Petersen, Esq.
c/o Columbia Management Investment Advisers, LLC
225 Franklin Street
Boston, Massachusetts 02110
Ryan C. Larrenaga, Esq.
c/o Columbia Management Investment Advisers, LLC
225 Franklin Street
Boston, MA 02110
(Name and address of agent for service)
Registrant's telephone number, including area code: (800) 345-6611
Date of fiscal year end: August 31
Date of reporting period: August 31, 2020
Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles.
A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 100 F Street, NE, Washington, DC 20549. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.
Item 1. Reports to Stockholders.
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* | The returns shown for periods prior to the share class inception date (including returns for the Life of the Fund, if shown, which are since Fund inception) include the returns of the Fund’s oldest share class. Since the Fund launched more than one share class at its inception, Class A shares were used. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. Please visit columbiathreadneedleus.com/investor/investment-products/mutual-funds/appended-performance for more information. |
Columbia Emerging Markets Bond Fund | Annual Report 2020
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4 | Columbia Emerging Markets Bond Fund | Annual Report 2020 |
Quality breakdown (%) (at August 31, 2020) | |
AAA rating | 1.1 |
AA rating | 9.7 |
A rating | 7.3 |
BBB rating | 29.7 |
BB rating | 26.2 |
B rating | 20.0 |
CCC rating | 1.0 |
CC rating | 0.4 |
D rating | 2.6 |
Not rated | 2.0 |
Total | 100.0 |
(a) | Includes investments in Money Market Funds. |
Columbia Emerging Markets Bond Fund | Annual Report 2020
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• | Argentine assets were especially volatile following the election of populist president Alberto Fernandez at the end of October 2019, with investors concerned about the prospect of default ahead of critical negotiations with the International Monetary Fund (IMF) and creditors on restructuring about $65 billion of debt. These negotiations finally culminated in agreement in August 2020, which then supported Argentina’s local bonds. |
• | The Brazilian real remained weak through much of the annual period, as political factors outweighed tentative signs of economic recovery. Growing demands to increase public spending prompted concern about the nation’s deficit outlook, while the resignation of senior economic officials cast doubt on the Brazilian government’s commitment to its reform agenda. |
• | Mexico was hit particularly hard by the COVID-19 pandemic, as the economy of the U.S., its main trading partner, went into lockdown and then recession. Independent ratings agency Fitch cut the Mexican sovereign debt credit rating to BBB-, the lowest investment-grade level, and Moody’s downgraded indebted state oil company Pemex to “junk” status. |
6 | Columbia Emerging Markets Bond Fund | Annual Report 2020 |
• | In Turkey, the lira remained under pressure against the euro and the U.S. dollar given negative real interest rates, a widening current account deficit and waning confidence in its government’s financial policies. Tensions around the deployment of troops in Syria and exploration for energy resources in the eastern Mediterranean Sea compounded the currency’s weakness. |
• | Russia’s announcement in August 2020 of the approval of a COVID-19 vaccine and plans to begin a large-scale vaccination program was met with caution given the speed of its development and a lack of testing data. |
• | South Africa’s economy was hampered by intermittent blackouts, as its national electric utility failed to meet demand, casting doubt upon the likely pace of economic recovery there. Near the end of the annual period, South Africa’s government received approval for a $4.3 billion IMF loan as part of a $26 billion package, equivalent to 10% of its domestic output, to stimulate economic growth there. |
Columbia Emerging Markets Bond Fund | Annual Report 2020
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8 | Columbia Emerging Markets Bond Fund | Annual Report 2020 |
Columbia Emerging Markets Bond Fund | Annual Report 2020
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10 | Columbia Emerging Markets Bond Fund | Annual Report 2020 |
Columbia Emerging Markets Bond Fund | Annual Report 2020
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12 | Columbia Emerging Markets Bond Fund | Annual Report 2020 |
Money Market Funds 7.1% | ||
Shares | Value ($) | |
Columbia Short-Term Cash Fund, 0.149%(f),(g) | 25,696,261 | 25,696,261 |
Total Money Market Funds
(Cost $25,696,261) |
25,696,261 | |
Total Investments in Securities
(Cost $357,042,624) |
351,800,876 | |
Other Assets & Liabilities, Net | 9,460,275 | |
Net Assets | $361,261,151 |
Columbia Emerging Markets Bond Fund | Annual Report 2020
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Forward foreign currency exchange contracts | |||||
Currency to
be sold |
Currency to
be purchased |
Counterparty |
Settlement
date |
Unrealized
appreciation ($) |
Unrealized
depreciation ($) |
112,300,000 MXN | 5,072,149 USD | Goldman Sachs | 10/20/2020 | — | (29,305) |
7,951,000 EUR | 9,392,063 USD | UBS | 10/20/2020 | — | (106,376) |
Total | — | (135,681) |
Short futures contracts | ||||||
Description |
Number of
contracts |
Expiration
date |
Trading
currency |
Notional
amount |
Value/Unrealized
appreciation ($) |
Value/Unrealized
depreciation ($) |
U.S. Ultra Bond 10-Year Note | (52) | 12/2020 | USD | (8,290,750) | 41,740 | — |
(a) | Represents privately placed and other securities and instruments exempt from Securities and Exchange Commission registration (collectively, private placements), such as Section 4(a)(2) and Rule 144A eligible securities, which are often sold only to qualified institutional buyers. At August 31, 2020, the total value of these securities amounted to $243,502,596, which represents 67.40% of total net assets. |
(b) | Represents a variable rate security with a step coupon where the rate adjusts according to a schedule for a series of periods, typically lower for an initial period and then increasing to a higher coupon rate thereafter. The interest rate shown was the current rate as of August 31, 2020. |
(c) | Principal amounts are denominated in United States Dollars unless otherwise noted. |
(d) | Principal and interest may not be guaranteed by a governmental entity. |
(e) | Represents securities that have defaulted on payment of interest. The Fund has stopped accruing interest on these securities. At August 31, 2020, the total value of these securities amounted to $9,066,857, which represents 2.51% of total net assets. |
(f) | The rate shown is the seven-day current annualized yield at August 31, 2020. |
(g) | As defined in the Investment Company Act of 1940, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the year ended August 31, 2020 are as follows: |
Affiliated issuers |
Beginning
of period($) |
Purchases($) | Sales($) |
Net change in
unrealized appreciation (depreciation)($) |
End of
period($) |
Realized gain
(loss)($) |
Dividends($) |
End of
period shares |
Columbia Short-Term Cash Fund, 0.149% | ||||||||
28,752,441 | 310,805,777 | (313,861,957) | — | 25,696,261 | 8,697 | 330,855 | 25,696,261 |
CNY | China Yuan Renminbi |
DOP | Dominican Republic Peso |
EGP | Egyptian Pound |
EUR | Euro |
MXN | Mexican Peso |
USD | US Dollar |
■ | Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments. |
■ | Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). |
14 | Columbia Emerging Markets Bond Fund | Annual Report 2020 |
■ | Level 3 — Valuations based on significant unobservable inputs (including the Fund’s own assumptions and judgment in determining the fair value of investments). |
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Securities | ||||
Corporate Bonds & Notes | — | 26,104,045 | — | 26,104,045 |
Foreign Government Obligations | — | 296,439,750 | — | 296,439,750 |
Treasury Bills | — | 3,560,820 | — | 3,560,820 |
Money Market Funds | 25,696,261 | — | — | 25,696,261 |
Total Investments in Securities | 25,696,261 | 326,104,615 | — | 351,800,876 |
Investments in Derivatives | ||||
Asset | ||||
Futures Contracts | 41,740 | — | — | 41,740 |
Liability | ||||
Forward Foreign Currency Exchange Contracts | — | (135,681) | — | (135,681) |
Total | 25,738,001 | 325,968,934 | — | 351,706,935 |
Columbia Emerging Markets Bond Fund | Annual Report 2020
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Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $331,346,363) | $326,104,615 |
Affiliated issuers (cost $25,696,261) | 25,696,261 |
Foreign currency (cost $1,999,176) | 2,019,194 |
Margin deposits on: | |
Futures contracts | 130,000 |
Receivable for: | |
Investments sold | 7,032,221 |
Capital shares sold | 1,139,904 |
Dividends | 3,767 |
Interest | 4,138,162 |
Foreign tax reclaims | 57,637 |
Prepaid expenses | 3,696 |
Total assets | 366,325,457 |
Liabilities | |
Unrealized depreciation on forward foreign currency exchange contracts | 135,681 |
Payable for: | |
Investments purchased | 4,570,585 |
Capital shares purchased | 185,326 |
Variation margin for futures contracts | 26,813 |
Management services fees | 17,692 |
Distribution and/or service fees | 2,561 |
Transfer agent fees | 29,053 |
Compensation of board members | 58,228 |
Other expenses | 38,367 |
Total liabilities | 5,064,306 |
Net assets applicable to outstanding capital stock | $361,261,151 |
Represented by | |
Paid in capital | 400,396,914 |
Total distributable earnings (loss) | (39,135,763) |
Total - representing net assets applicable to outstanding capital stock | $361,261,151 |
16 | Columbia Emerging Markets Bond Fund | Annual Report 2020 |
Class A | |
Net assets | $46,632,417 |
Shares outstanding | 4,124,168 |
Net asset value per share | $11.31 |
Maximum sales charge | 4.75% |
Maximum offering price per share (calculated by dividing the net asset value per share by 1.0 minus the maximum sales charge for Class A shares) | $11.87 |
Advisor Class | |
Net assets | $4,799,029 |
Shares outstanding | 423,734 |
Net asset value per share | $11.33 |
Class C | |
Net assets | $8,881,088 |
Shares outstanding | 790,938 |
Net asset value per share | $11.23 |
Institutional Class | |
Net assets | $51,668,080 |
Shares outstanding | 4,565,450 |
Net asset value per share | $11.32 |
Institutional 2 Class | |
Net assets | $42,698,547 |
Shares outstanding | 3,773,635 |
Net asset value per share | $11.31 |
Institutional 3 Class | |
Net assets | $184,834,486 |
Shares outstanding | 16,330,826 |
Net asset value per share | $11.32 |
Class R | |
Net assets | $21,747,504 |
Shares outstanding | 1,924,295 |
Net asset value per share | $11.30 |
Columbia Emerging Markets Bond Fund | Annual Report 2020
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Net investment income | |
Income: | |
Dividends — affiliated issuers | $330,855 |
Interest | 19,224,334 |
Interfund lending | 787 |
Foreign taxes withheld | (190,899) |
Total income | 19,365,077 |
Expenses: | |
Management services fees | 2,225,520 |
Distribution and/or service fees | |
Class A | 121,595 |
Class C | 110,960 |
Class R | 112,219 |
Transfer agent fees | |
Class A | 88,937 |
Advisor Class | 20,374 |
Class C | 20,250 |
Institutional Class | 115,883 |
Institutional 2 Class | 17,551 |
Institutional 3 Class | 15,165 |
Class R | 41,069 |
Compensation of board members | 18,332 |
Custodian fees | 36,861 |
Printing and postage fees | 34,147 |
Registration fees | 105,486 |
Audit fees | 30,312 |
Legal fees | 11,751 |
Interest on collateral | 214 |
Compensation of chief compliance officer | 83 |
Other | 39,722 |
Total expenses | 3,166,431 |
Net investment income | 16,198,646 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | 1,373,112 |
Investments — affiliated issuers | 8,697 |
Foreign currency translations | (45,015) |
Forward foreign currency exchange contracts | 1,080,021 |
Futures contracts | 432,495 |
Net realized gain | 2,849,310 |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | (10,046,872) |
Foreign currency translations | 46,300 |
Forward foreign currency exchange contracts | (589,640) |
Futures contracts | (94,168) |
Foreign capital gains tax | 6,800 |
Net change in unrealized appreciation (depreciation) | (10,677,580) |
Net realized and unrealized loss | (7,828,270) |
Net increase in net assets resulting from operations | $8,370,376 |
18 | Columbia Emerging Markets Bond Fund | Annual Report 2020 |
Year Ended
August 31, 2020 |
Year Ended
August 31, 2019 |
|
Operations | ||
Net investment income | $16,198,646 | $23,059,863 |
Net realized gain (loss) | 2,849,310 | (30,681,315) |
Net change in unrealized appreciation (depreciation) | (10,677,580) | 45,094,828 |
Net increase in net assets resulting from operations | 8,370,376 | 37,473,376 |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (1,536,100) | (2,258,287) |
Advisor Class | (384,613) | (502,047) |
Class C | (268,569) | (488,629) |
Institutional Class | (2,167,199) | (3,080,458) |
Institutional 2 Class | (1,202,923) | (1,468,247) |
Institutional 3 Class | (6,484,372) | (8,328,066) |
Class R | (654,730) | (953,527) |
Class T | — | (1,909) |
Total distributions to shareholders | (12,698,506) | (17,081,170) |
Decrease in net assets from capital stock activity | (36,370,725) | (53,701,715) |
Total decrease in net assets | (40,698,855) | (33,309,509) |
Net assets at beginning of year | 401,960,006 | 435,269,515 |
Net assets at end of year | $361,261,151 | $401,960,006 |
Columbia Emerging Markets Bond Fund | Annual Report 2020
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Year Ended | Year Ended | |||
August 31, 2020 | August 31, 2019 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 611,449 | 6,646,050 | 820,311 | 8,999,216 |
Distributions reinvested | 135,732 | 1,495,230 | 199,197 | 2,173,681 |
Redemptions | (1,473,275) | (16,019,676) | (1,889,197) | (20,699,944) |
Net decrease | (726,094) | (7,878,396) | (869,689) | (9,527,047) |
Advisor Class | ||||
Subscriptions | 268,364 | 2,968,905 | 1,573,445 | 17,276,929 |
Distributions reinvested | 34,333 | 384,409 | 45,376 | 501,637 |
Redemptions | (1,659,141) | (17,741,397) | (650,791) | (7,048,161) |
Net increase (decrease) | (1,356,444) | (14,388,083) | 968,030 | 10,730,405 |
Class C | ||||
Subscriptions | 21,082 | 228,895 | 80,670 | 871,395 |
Distributions reinvested | 22,366 | 245,444 | 41,577 | 449,699 |
Redemptions | (444,857) | (4,850,966) | (481,411) | (5,247,130) |
Net decrease | (401,409) | (4,376,627) | (359,164) | (3,926,036) |
Institutional Class | ||||
Subscriptions | 1,966,307 | 21,803,127 | 1,860,095 | 20,345,926 |
Distributions reinvested | 192,303 | 2,123,015 | 277,843 | 3,034,724 |
Redemptions | (3,913,431) | (41,378,706) | (3,425,605) | (37,229,571) |
Net decrease | (1,754,821) | (17,452,564) | (1,287,667) | (13,848,921) |
Institutional 2 Class | ||||
Subscriptions | 3,067,977 | 33,744,385 | 1,442,749 | 15,696,050 |
Distributions reinvested | 108,739 | 1,202,211 | 134,583 | 1,468,217 |
Redemptions | (2,512,417) | (26,642,333) | (1,858,248) | (19,877,020) |
Net increase (decrease) | 664,299 | 8,304,263 | (280,916) | (2,712,753) |
Institutional 3 Class | ||||
Subscriptions | 1,393,213 | 15,404,862 | 1,556,246 | 17,023,820 |
Distributions reinvested | 589,251 | 6,484,372 | 762,822 | 8,328,065 |
Redemptions | (1,794,122) | (19,746,092) | (5,061,715) | (55,708,692) |
Net increase (decrease) | 188,342 | 2,143,142 | (2,742,647) | (30,356,807) |
Class R | ||||
Subscriptions | 182,147 | 1,960,741 | 97,747 | 1,067,568 |
Distributions reinvested | 56,736 | 625,348 | 80,912 | 882,188 |
Redemptions | (495,648) | (5,308,549) | (533,534) | (5,848,387) |
Net decrease | (256,765) | (2,722,460) | (354,875) | (3,898,631) |
Class T | ||||
Distributions reinvested | — | — | 169 | 1,795 |
Redemptions | — | — | (15,561) | (163,720) |
Net decrease | — | — | (15,392) | (161,925) |
Total net decrease | (3,642,892) | (36,370,725) | (4,942,320) | (53,701,715) |
20 | Columbia Emerging Markets Bond Fund | Annual Report 2020 |
Net asset value,
beginning of period |
Net
investment income |
Net
realized and unrealized gain (loss) |
Total from
investment operations |
Distributions
from net investment income |
Distributions
from net realized gains |
Total
distributions to shareholders |
|
Class A | |||||||
Year Ended 8/31/2020 | $11.29 | 0.45 | (0.08) | 0.37 | (0.35) | — | (0.35) |
Year Ended 8/31/2019 | $10.74 | 0.59 | 0.39 | 0.98 | (0.43) | — | (0.43) |
Year Ended 8/31/2018 | $12.09 | 0.62 | (1.31) | (0.69) | (0.66) | — | (0.66) |
Year Ended 8/31/2017(d) | $11.64 | 0.54 | 0.33 | 0.87 | (0.42) | — | (0.42) |
Year Ended 10/31/2016 | $10.56 | 0.64 | 0.73 | 1.37 | (0.29) | — | (0.29) |
Year Ended 10/31/2015 | $11.37 | 0.62 | (1.12) | (0.50) | (0.30) | (0.01) | (0.31) |
Advisor Class | |||||||
Year Ended 8/31/2020 | $11.31 | 0.51 | (0.11) | 0.40 | (0.38) | — | (0.38) |
Year Ended 8/31/2019 | $10.75 | 0.61 | 0.41 | 1.02 | (0.46) | — | (0.46) |
Year Ended 8/31/2018 | $12.11 | 0.65 | (1.32) | (0.67) | (0.69) | — | (0.69) |
Year Ended 8/31/2017(d) | $11.65 | 0.58 | 0.32 | 0.90 | (0.44) | — | (0.44) |
Year Ended 10/31/2016 | $10.57 | 0.68 | 0.72 | 1.40 | (0.32) | — | (0.32) |
Year Ended 10/31/2015 | $11.38 | 0.64 | (1.12) | (0.48) | (0.32) | (0.01) | (0.33) |
Class C | |||||||
Year Ended 8/31/2020 | $11.22 | 0.37 | (0.09) | 0.28 | (0.27) | — | (0.27) |
Year Ended 8/31/2019 | $10.67 | 0.51 | 0.39 | 0.90 | (0.35) | — | (0.35) |
Year Ended 8/31/2018 | $12.01 | 0.53 | (1.29) | (0.76) | (0.58) | — | (0.58) |
Year Ended 8/31/2017(d) | $11.57 | 0.47 | 0.31 | 0.78 | (0.34) | — | (0.34) |
Year Ended 10/31/2016 | $10.50 | 0.56 | 0.72 | 1.28 | (0.21) | — | (0.21) |
Year Ended 10/31/2015 | $11.32 | 0.53 | (1.11) | (0.58) | (0.23) | (0.01) | (0.24) |
Institutional Class | |||||||
Year Ended 8/31/2020 | $11.30 | 0.49 | (0.09) | 0.40 | (0.38) | — | (0.38) |
Year Ended 8/31/2019 | $10.75 | 0.62 | 0.39 | 1.01 | (0.46) | — | (0.46) |
Year Ended 8/31/2018 | $12.10 | 0.65 | (1.31) | (0.66) | (0.69) | — | (0.69) |
Year Ended 8/31/2017(d) | $11.65 | 0.57 | 0.32 | 0.89 | (0.44) | — | (0.44) |
Year Ended 10/31/2016 | $10.57 | 0.67 | 0.73 | 1.40 | (0.32) | — | (0.32) |
Year Ended 10/31/2015 | $11.37 | 0.64 | (1.11) | (0.47) | (0.32) | (0.01) | (0.33) |
22 | Columbia Emerging Markets Bond Fund | Annual Report 2020 |
Net
asset value, end of period |
Total
Return |
Total gross
expense ratio to average net assets(a) |
Total net
expense ratio to average net assets(a),(b) |
Net investment
income ratio to average net assets |
Portfolio
turnover |
Net
assets, end of period (000’s) |
|
Class A | |||||||
Year Ended 8/31/2020 | $11.31 | 3.40% | 1.11%(c) | 1.11%(c) | 4.13% | 175% | $46,632 |
Year Ended 8/31/2019 | $11.29 | 9.33% | 1.11%(c) | 1.11%(c) | 5.40% | 106% | $54,778 |
Year Ended 8/31/2018 | $10.74 | (5.97%) | 1.13% | 1.13% | 5.33% | 64% | $61,421 |
Year Ended 8/31/2017(d) | $12.09 | 7.68% | 1.17%(e) | 1.17%(e) | 5.63%(e) | 44% | $77,842 |
Year Ended 10/31/2016 | $11.64 | 13.30% | 1.20% | 1.20% | 5.91% | 44% | $135,877 |
Year Ended 10/31/2015 | $10.56 | (4.39%) | 1.15% | 1.15%(f) | 5.72% | 32% | $136,042 |
Advisor Class | |||||||
Year Ended 8/31/2020 | $11.33 | 3.65% | 0.85%(c) | 0.85%(c) | 4.51% | 175% | $4,799 |
Year Ended 8/31/2019 | $11.31 | 9.69% | 0.86%(c) | 0.86%(c) | 5.51% | 106% | $20,141 |
Year Ended 8/31/2018 | $10.75 | (5.80%) | 0.88% | 0.88% | 5.60% | 64% | $8,734 |
Year Ended 8/31/2017(d) | $12.11 | 7.99% | 0.91%(e) | 0.91%(e) | 5.97%(e) | 44% | $8,758 |
Year Ended 10/31/2016 | $11.65 | 13.57% | 0.95% | 0.95% | 6.21% | 44% | $1,964 |
Year Ended 10/31/2015 | $10.57 | (4.19%) | 0.89% | 0.89%(f) | 5.99% | 32% | $1,578 |
Class C | |||||||
Year Ended 8/31/2020 | $11.23 | 2.55% | 1.86%(c) | 1.86%(c) | 3.39% | 175% | $8,881 |
Year Ended 8/31/2019 | $11.22 | 8.57% | 1.86%(c) | 1.86%(c) | 4.66% | 106% | $13,374 |
Year Ended 8/31/2018 | $10.67 | (6.63%) | 1.88% | 1.88% | 4.57% | 64% | $16,550 |
Year Ended 8/31/2017(d) | $12.01 | 6.97% | 1.92%(e) | 1.92%(e) | 4.91%(e) | 44% | $20,307 |
Year Ended 10/31/2016 | $11.57 | 12.43% | 1.95% | 1.95% | 5.16% | 44% | $23,714 |
Year Ended 10/31/2015 | $10.50 | (5.11%) | 1.90% | 1.90%(f) | 4.96% | 32% | $31,610 |
Institutional Class | |||||||
Year Ended 8/31/2020 | $11.32 | 3.66% | 0.86%(c) | 0.86%(c) | 4.40% | 175% | $51,668 |
Year Ended 8/31/2019 | $11.30 | 9.60% | 0.86%(c) | 0.86%(c) | 5.65% | 106% | $71,443 |
Year Ended 8/31/2018 | $10.75 | (5.72%) | 0.88% | 0.88% | 5.57% | 64% | $81,762 |
Year Ended 8/31/2017(d) | $12.10 | 7.90% | 0.92%(e) | 0.92%(e) | 5.94%(e) | 44% | $94,159 |
Year Ended 10/31/2016 | $11.65 | 13.57% | 0.95% | 0.95% | 6.17% | 44% | $75,526 |
Year Ended 10/31/2015 | $10.57 | (4.10%) | 0.90% | 0.90%(f) | 5.98% | 32% | $79,496 |
Columbia Emerging Markets Bond Fund | Annual Report 2020
|
23 |
Net asset value,
beginning of period |
Net
investment income |
Net
realized and unrealized gain (loss) |
Total from
investment operations |
Distributions
from net investment income |
Distributions
from net realized gains |
Total
distributions to shareholders |
|
Institutional 2 Class | |||||||
Year Ended 8/31/2020 | $11.30 | 0.49 | (0.09) | 0.40 | (0.39) | — | (0.39) |
Year Ended 8/31/2019 | $10.74 | 0.63 | 0.40 | 1.03 | (0.47) | — | (0.47) |
Year Ended 8/31/2018 | $12.10 | 0.65 | (1.30) | (0.65) | (0.71) | — | (0.71) |
Year Ended 8/31/2017(d) | $11.64 | 0.59 | 0.33 | 0.92 | (0.46) | — | (0.46) |
Year Ended 10/31/2016 | $10.56 | 0.70 | 0.72 | 1.42 | (0.34) | — | (0.34) |
Year Ended 10/31/2015 | $11.37 | 0.66 | (1.12) | (0.46) | (0.34) | (0.01) | (0.35) |
Institutional 3 Class | |||||||
Year Ended 8/31/2020 | $11.30 | 0.50 | (0.09) | 0.41 | (0.39) | — | (0.39) |
Year Ended 8/31/2019 | $10.75 | 0.64 | 0.39 | 1.03 | (0.48) | — | (0.48) |
Year Ended 8/31/2018 | $12.10 | 0.66 | (1.30) | (0.64) | (0.71) | — | (0.71) |
Year Ended 8/31/2017(d) | $11.65 | 0.61 | 0.31 | 0.92 | (0.47) | — | (0.47) |
Year Ended 10/31/2016 | $10.57 | 0.71 | 0.72 | 1.43 | (0.35) | — | (0.35) |
Year Ended 10/31/2015 | $11.38 | 0.67 | (1.12) | (0.45) | (0.35) | (0.01) | (0.36) |
Class R | |||||||
Year Ended 8/31/2020 | $11.29 | 0.42 | (0.09) | 0.33 | (0.32) | — | (0.32) |
Year Ended 8/31/2019 | $10.73 | 0.56 | 0.40 | 0.96 | (0.40) | — | (0.40) |
Year Ended 8/31/2018 | $12.08 | 0.59 | (1.31) | (0.72) | (0.63) | — | (0.63) |
Year Ended 8/31/2017(d) | $11.63 | 0.52 | 0.32 | 0.84 | (0.39) | — | (0.39) |
Year Ended 10/31/2016 | $10.55 | 0.62 | 0.73 | 1.35 | (0.27) | — | (0.27) |
Year Ended 10/31/2015 | $11.37 | 0.59 | (1.12) | (0.53) | (0.28) | (0.01) | (0.29) |
Notes to Financial Highlights | |
(a) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(b) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(c) | Ratios include interest on collateral expense which is less than 0.01%. |
(d) | For the period from November 1, 2016 to August 31, 2017. During the period, the Fund’s fiscal year end was changed from October 31 to August 31. |
(e) | Annualized. |
(f) | The benefits derived from expense reductions had an impact of less than 0.01%. |
24 | Columbia Emerging Markets Bond Fund | Annual Report 2020 |
Net
asset value, end of period |
Total
Return |
Total gross
expense ratio to average net assets(a) |
Total net
expense ratio to average net assets(a),(b) |
Net investment
income ratio to average net assets |
Portfolio
turnover |
Net
assets, end of period (000’s) |
|
Institutional 2 Class | |||||||
Year Ended 8/31/2020 | $11.31 | 3.69% | 0.73%(c) | 0.73%(c) | 4.44% | 175% | $42,699 |
Year Ended 8/31/2019 | $11.30 | 9.83% | 0.75%(c) | 0.75%(c) | 5.75% | 106% | $35,131 |
Year Ended 8/31/2018 | $10.74 | (5.68%) | 0.75% | 0.74% | 5.60% | 64% | $36,419 |
Year Ended 8/31/2017(d) | $12.10 | 8.18% | 0.76%(e) | 0.75%(e) | 6.10%(e) | 44% | $50,366 |
Year Ended 10/31/2016 | $11.64 | 13.82% | 0.74% | 0.74% | 6.34% | 44% | $18,615 |
Year Ended 10/31/2015 | $10.56 | (4.03%) | 0.72% | 0.72% | 6.19% | 32% | $8,384 |
Institutional 3 Class | |||||||
Year Ended 8/31/2020 | $11.32 | 3.83% | 0.68%(c) | 0.68%(c) | 4.53% | 175% | $184,834 |
Year Ended 8/31/2019 | $11.30 | 9.79% | 0.69%(c) | 0.69%(c) | 5.83% | 106% | $182,472 |
Year Ended 8/31/2018 | $10.75 | (5.54%) | 0.70% | 0.69% | 5.72% | 64% | $202,999 |
Year Ended 8/31/2017(d) | $12.10 | 8.13% | 0.71%(e) | 0.70%(e) | 6.17%(e) | 44% | $173,174 |
Year Ended 10/31/2016 | $11.65 | 13.86% | 0.69% | 0.69% | 6.41% | 44% | $3,199 |
Year Ended 10/31/2015 | $10.57 | (3.99%) | 0.67% | 0.67% | 6.23% | 32% | $1,120 |
Class R | |||||||
Year Ended 8/31/2020 | $11.30 | 3.05% | 1.36%(c) | 1.36%(c) | 3.87% | 175% | $21,748 |
Year Ended 8/31/2019 | $11.29 | 9.16% | 1.36%(c) | 1.36%(c) | 5.15% | 106% | $24,620 |
Year Ended 8/31/2018 | $10.73 | (6.20%) | 1.38% | 1.38% | 5.07% | 64% | $27,218 |
Year Ended 8/31/2017(d) | $12.08 | 7.46% | 1.42%(e) | 1.42%(e) | 5.43%(e) | 44% | $33,057 |
Year Ended 10/31/2016 | $11.63 | 13.03% | 1.45% | 1.45% | 5.64% | 44% | $21,289 |
Year Ended 10/31/2015 | $10.55 | (4.69%) | 1.40% | 1.40%(f) | 5.53% | 32% | $13,281 |
Columbia Emerging Markets Bond Fund | Annual Report 2020
|
25 |
26 | Columbia Emerging Markets Bond Fund | Annual Report 2020 |
Columbia Emerging Markets Bond Fund | Annual Report 2020
|
27 |
28 | Columbia Emerging Markets Bond Fund | Annual Report 2020 |
* | Includes cumulative appreciation (depreciation) as reported in the tables following the Portfolio of Investments. Only the current day’s variation margin is reported in receivables or payables in the Statement of Assets and Liabilities. |
Columbia Emerging Markets Bond Fund | Annual Report 2020
|
29 |
Amount of realized gain (loss) on derivatives recognized in income | ||||||
Risk exposure category |
Forward
foreign currency exchange contracts ($) |
Futures
contracts ($) |
Total
($) |
|||
Foreign exchange risk | 1,080,021 | — | 1,080,021 | |||
Interest rate risk | — | 432,495 | 432,495 | |||
Total | 1,080,021 | 432,495 | 1,512,516 | |||
Change in unrealized appreciation (depreciation) on derivatives recognized in income | ||||||
Risk exposure category |
Forward
foreign currency exchange contracts ($) |
Futures
contracts ($) |
Total
($) |
|||
Foreign exchange risk | (589,640) | — | (589,640) | |||
Interest rate risk | — | (94,168) | (94,168) | |||
Total | (589,640) | (94,168) | (683,808) |
Derivative instrument |
Average notional
amounts ($)* |
Futures contracts — long | 4,394,336 |
Futures contracts — short | 8,551,180 |
Derivative instrument |
Average unrealized
appreciation ($)* |
Average unrealized
depreciation ($)* |
Forward foreign currency exchange contracts | 161,605 | (232,332) |
* | Based on the ending quarterly outstanding amounts for the year ended August 31, 2020. |
Goldman
Sachs ($) |
UBS ($) | Total ($) | |
Liabilities | |||
Forward foreign currency exchange contracts | 29,305 | 106,376 | 135,681 |
Total financial and derivative net assets | (29,305) | (106,376) | (135,681) |
Total collateral received (pledged) (a) | - | - | - |
Net amount (b) | (29,305) | (106,376) | (135,681) |
(a) | In some instances, the actual collateral received and/or pledged may be more than the amount shown due to overcollateralization. |
(b) | Represents the net amount due from/(to) counterparties in the event of default. |
30 | Columbia Emerging Markets Bond Fund | Annual Report 2020 |
Columbia Emerging Markets Bond Fund | Annual Report 2020
|
31 |
32 | Columbia Emerging Markets Bond Fund | Annual Report 2020 |
Effective rate (%) | |
Class A | 0.18 |
Advisor Class | 0.18 |
Class C | 0.18 |
Institutional Class | 0.18 |
Institutional 2 Class | 0.05 |
Institutional 3 Class | 0.01 |
Class R | 0.18 |
Columbia Emerging Markets Bond Fund | Annual Report 2020
|
33 |
Front End (%) | CDSC (%) | Amount ($) | |
Class A | 4.75 | 0.50 - 1.00(a) | 18,775 |
Class C | — | 1.00(b) | 783 |
(a) | This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions. |
(b) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
34 | Columbia Emerging Markets Bond Fund | Annual Report 2020 |
Excess of distributions
over net investment income ($) |
Accumulated
net realized (loss) ($) |
Paid in
capital ($) |
(2,341,473) | 2,341,473 | — |
Year Ended August 31, 2020 | Year Ended August 31, 2019 | ||||
Ordinary
income ($) |
Long-term
capital gains ($) |
Total ($) |
Ordinary
income ($) |
Long-term
capital gains ($) |
Total ($) |
12,698,506 | — | 12,698,506 | 17,081,170 | — | 17,081,170 |
Undistributed
ordinary income ($) |
Undistributed
long-term capital gains ($) |
Capital loss
carryforwards ($) |
Net unrealized
(depreciation) ($) |
— | — | (31,575,350) | (7,192,781) |
Federal
tax cost ($) |
Gross unrealized
appreciation ($) |
Gross unrealized
(depreciation) ($) |
Net unrealized
(depreciation) ($) |
358,899,716 | 15,472,164 | (22,664,945) | (7,192,781) |
No expiration
short-term ($) |
No expiration
long-term ($) |
Total ($) | Utilized ($) |
(8,806,436) | (22,768,914) | (31,575,350) | 3,519,641 |
Late year
ordinary losses ($) |
Post-October
capital losses ($) |
348,669 | — |
Columbia Emerging Markets Bond Fund | Annual Report 2020
|
35 |
Borrower or lender |
Average loan
balance ($) |
Weighted average
interest rate (%) |
Number of days
with outstanding loans |
Lender | 2,000,000 | 1.32 | 7 |
36 | Columbia Emerging Markets Bond Fund | Annual Report 2020 |
Columbia Emerging Markets Bond Fund | Annual Report 2020
|
37 |
38 | Columbia Emerging Markets Bond Fund | Annual Report 2020 |
Columbia Emerging Markets Bond Fund | Annual Report 2020
|
39 |
40 | Columbia Emerging Markets Bond Fund | Annual Report 2020 |
Foreign
taxes paid to foreign countries |
Foreign
taxes paid per share to foreign countries |
Foreign
source income |
Foreign
source income per share |
$189,060 | $0.0059 | $19,060,509 | $0.60 |
Name,
address, year of birth |
Position held
with the Trust and length of service |
Principal occupation(s)
during past five years and other relevant professional experience |
Number of
Funds in the Columbia Funds Complex overseen |
Other directorships
held by Trustee during the past five years |
George S. Batejan
c/o Columbia Management Investment Advisers, LLC 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1953 |
Trustee since 1/17 | Executive Vice President, Global Head of Technology and Operations, Janus Capital Group, Inc., 2010-2016 | 110 | Former Chairman of the Board, NICSA (National Investment Company Services Association) (Executive Committee, Nominating Committee and Governance Committee), 2014-2016; former Director, Intech Investment Management, 2011-2016; former Board Member, Metro Denver Chamber of Commerce, 2015-2016; former Advisory Board Member, University of Colorado Business School, 2015-2018 |
Columbia Emerging Markets Bond Fund | Annual Report 2020
|
41 |
Name,
address, year of birth |
Position held
with the Trust and length of service |
Principal occupation(s)
during past five years and other relevant professional experience |
Number of
Funds in the Columbia Funds Complex overseen |
Other directorships
held by Trustee during the past five years |
Kathleen Blatz
c/o Columbia Management Investment Advisers, LLC 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1954 |
Trustee since 1/06 for RiverSource Funds and since 6/11 for Nations Funds | Attorney; specializing in arbitration and mediation; Chief Justice, Minnesota Supreme Court, 1998-2006; Associate Justice, Minnesota Supreme Court, 1996-1998; Fourth Judicial District Court Judge, Hennepin County, 1994-1996; Attorney in private practice and public service, 1984-1993; State Representative, Minnesota House of Representatives, 1979-1993, which included service on the Tax and Financial Institutions and Insurance Committees; Member and Interim Chair, Minnesota Sports Facilities Authority, January 2017-July 2017; Interim President and Chief Executive Officer, Blue Cross and Blue Shield of Minnesota (health care insurance), February-July 2018 | 110 | Trustee, BlueCross BlueShield of Minnesota since 2009 (Chair of the Business Development Committee - 2014-2017; Chair of the Governance Committee, 2017-2020); Chair of the Robina Foundation since August 2013; former Member and Chair of the Board, Minnesota Sports Facilities Authority, January 2017-July 2017 |
Pamela G. Carlton
c/o Columbia Management Investment Advisers, LLC 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1954 |
Trustee since 7/07 for RiverSource Funds and since 6/11 for Nations Funds | President, Springboard — Partners in Cross Cultural Leadership (consulting company) since 2003; Managing Director of US Equity Research, JP Morgan Chase, 1999-2003; Director of US Equity Research, Chase Asset Management, 1996-1999; Co-Director Latin America Research, 1993-1996, COO Global Research, 1992-1996, Co-Director of US Research, 1991-1992, Investment Banker, Morgan Stanley, 1982-1991 | 110 | Trustee, New York Presbyterian Hospital Board (Executive Committee and Chair of Human Resources Committee) since 1996; Director, DR Bank (Audit Committee) since 2017; Director, Evercore Inc. (Audit Committee, Nominating and Governance Committee) since 2019 |
Patricia M. Flynn
c/o Columbia Management Investment Advisers, LLC 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1950 |
Trustee since 11/04 for RiverSource Funds and since 6/11 for Nations Funds | Trustee Professor of Economics and Management, Bentley University since 1976 (also teaches and conducts research on corporate governance); Dean, McCallum Graduate School of Business, Bentley University, 1992-2002 | 110 | Trustee, MA Taxpayers Foundation since 1997; Board of Governors, Innovation Institute, MA Technology Collaborative since 2010; Board of Directors, The MA Business Roundtable 2003-2019 |
Brian J. Gallagher
c/o Columbia Management Investment Advisers, LLC 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1954 |
Trustee since 12/17 | Retired; Partner with Deloitte & Touche LLP and its predecessors, 1977-2016 | 110 | Trustee, Catholic Schools Foundation since 2004 |
Catherine James Paglia
c/o Columbia Management Investment Advisers, LLC 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1952 |
Chair of the Board since 1/20; Trustee since 11/04 for RiverSource Funds and since 6/11 for Nations Funds | Director, Enterprise Asset Management, Inc. (private real estate and asset management company) since September 1998; Managing Director and Partner, Interlaken Capital, Inc., 1989-1997; Managing Director, Morgan Stanley, 1982-1989; Vice President, Investment Banking, 1980-1982, Associate, Investment Banking, 1976-1980, Dean Witter Reynolds, Inc. | 110 | Director, Valmont Industries, Inc. (irrigation systems manufacturer) since 2012; Trustee, Carleton College (on the Investment Committee); Trustee, Carnegie Endowment for International Peace (on the Investment Committee) |
42 | Columbia Emerging Markets Bond Fund | Annual Report 2020 |
Name,
address, year of birth |
Position held
with the Trust and length of service |
Principal occupation(s)
during past five years and other relevant professional experience |
Number of
Funds in the Columbia Funds Complex overseen |
Other directorships
held by Trustee during the past five years |
Anthony M. Santomero
c/o Columbia Management Investment Advisers, LLC 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1946 |
Trustee since 6/11 for RiverSource Funds and since 1/08 for Nations Funds | Richard K. Mellon Professor Emeritus of Finance, The Wharton School, University of Pennsylvania, since 2002; Senior Advisor, McKinsey & Company (consulting), 2006-2008; President, Federal Reserve Bank of Philadelphia, 2000- 2006; Professor of Finance, The Wharton School, University of Pennsylvania, 1972-2002 | 110 | Trustee, Penn Mutual Life Insurance Company since March 2008; Director, Renaissance Reinsurance Ltd. since May 2008; former Director, Citigroup Inc. and Citibank, N.A., 2009-2019; former Trustee, BofA Funds Series Trust (11 funds), 2008-2011 |
Minor M. Shaw
c/o Columbia Management Investment Advisers, LLC 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1947 |
Trustee since 6/11 for RiverSource Funds and since 2003 for Nations Funds | President, Micco LLC (private investments) since 2011; President, Micco Corp. (family investment business), 1998-2011 | 110 | Director, BlueCross BlueShield of South Carolina since April 2008; Trustee, Hollingsworth Funds since 2016 (previously Board Chair from 2016-2019); Advisory Board member, Duke Energy Corp. since October 2016; Chair of the Duke Endowment; Chair of Greenville – Spartanburg Airport Commission; former Trustee, BofA Funds Series Trust (11 funds), 2003-2011; former Director, Piedmont Natural Gas, 2004-2016; former Director, National Association of Corporate Directors, Carolinas Chapter, 2013-2018 |
Sandra Yeager
c/o Columbia Management Investment Advisers, LLC 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1964 |
Trustee since 12/17 | Retired; President and founder, Hanoverian Capital, LLC (SEC registered investment advisor firm), 2008-2016; Managing Director, DuPont Capital, 2006-2008; Managing Director, Morgan Stanley Investment Management, 2004-2006; Senior Vice President, Alliance Bernstein, 1990-2004 | 110 | Director, NAPE Education Foundation since October 2016 |
Columbia Emerging Markets Bond Fund | Annual Report 2020
|
43 |
* | Interested person (as defined under the 1940 Act) by reason of being an officer, director, security holder and/or employee of the Investment Manager or Ameriprise Financial. |
Name,
address and year of birth |
Position and year
first appointed to position for any Fund in the Columbia Funds Complex or a predecessor thereof |
Principal occupation(s) during past five years |
Christopher O. Petersen
5228 Ameriprise Financial Center Minneapolis, MN 55474 Born 1970 |
President and Principal Executive Officer (2015) | Vice President and Lead Chief Counsel, Ameriprise Financial, Inc. since January 2015 (previously Vice President and Chief Counsel, January 2010 - December 2014); officer of Columbia Funds and affiliated funds since 2007. |
Michael G. Clarke
225 Franklin Street Boston, MA 02110 Born 1969 |
Chief Financial Officer, Principal Financial Officer (2009), and Senior Vice President (2019) | Vice President, Head of North American Operations, and Co-Head of Global Operations, – Accounting and Tax, Columbia Management Investment Advisers, LLC, since June 2019 (previously Vice President – Accounting and Tax, May 2010 – May 2019); senior officer of Columbia Funds and affiliated funds since 2002 (previously, Treasurer and Chief Accounting Officer, January 2009 – January 2019 and December 2015 – January 2019, respectively). |
Joseph Beranek
5890 Ameriprise Financial Center Minneapolis, MN 55474 Born 1965 |
Treasurer, Chief Accounting Officer (Principal Accounting Officer) (2019), and Principal Financial Officer (2020) | Vice President – Mutual Fund Accounting and Financial Reporting, Columbia Management Investment Advisers, LLC, since December 2018 and March 2017, respectively (previously Vice President – Pricing and Corporate Actions, May 2010 - March 2017). |
44 | Columbia Emerging Markets Bond Fund | Annual Report 2020 |
Name,
address and year of birth |
Position and year
first appointed to position for any Fund in the Columbia Funds Complex or a predecessor thereof |
Principal occupation(s) during past five years |
Paul B. Goucher
485 Lexington Avenue New York, NY 10017 Born 1968 |
Senior Vice President (2011) and Assistant Secretary (2008) | Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc. since January 2017 (previously Vice President and Lead Chief Counsel, November 2008 - January 2017 and January 2013 - January 2017, respectively); Vice President, Chief Legal Officer and Assistant Secretary, Columbia Management Investment Advisers, LLC since March 2015 (previously Vice President and Assistant Secretary, May 2010 – March 2015). |
Thomas P. McGuire
225 Franklin Street Boston, MA 02110 Born 1972 |
Senior Vice President and Chief Compliance Officer (2012) | Vice President – Asset Management Compliance, Ameriprise Financial, Inc., since May 2010; Chief Compliance Officer, Ameriprise Certificate Company since September 2010; Chief Compliance Officer, Columbia Acorn/Wanger Funds since December 2015. |
Colin Moore
225 Franklin Street Boston, MA 02110 Born 1958 |
Senior Vice President (2010) | Executive Vice President and Global Chief Investment Officer, Ameriprise Financial, Inc., since July 2013; Executive Vice President and Global Chief Investment Officer, Columbia Management Investment Advisers, LLC since July 2013. |
Ryan C. Larrenaga
225 Franklin Street Boston, MA 02110 Born 1970 |
Senior Vice President (2017), Chief Legal Officer (2017), and Secretary (2015) | Vice President and Chief Counsel, Ameriprise Financial, Inc. since August 2018 (previously Vice President and Group Counsel, August 2011 - August 2018); officer of Columbia Funds and affiliated funds since 2005. |
Daniel J. Beckman
225 Franklin Street Boston, MA 02110 Born 1962 |
Senior Vice President (2020) | Vice President – Head of North America Product, Columbia Management Investment Advisers, LLC (since April 2015); previously, Senior Vice President of Investment Product Management, Fidelity Financial Advisor Solutions, a division of Fidelity Investments (January 2012 – March 2015). |
Michael E. DeFao
225 Franklin Street Boston, MA 02110 Born 1968 |
Vice President (2011) and Assistant Secretary (2010) | Vice President and Chief Counsel, Ameriprise Financial, Inc. since May 2010. |
Lyn Kephart-Strong
5228 Ameriprise Financial Center Minneapolis, MN 55474 Born 1960 |
Vice President (2015) | President, Columbia Management Investment Services Corp. since October 2014; Vice President & Resolution Officer, Ameriprise Trust Company since August 2009. |
• | the Fund had sufficient liquidity to both meet redemptions and operate effectively on behalf of shareholders; |
• | there were no material changes to the Program during the period; |
Columbia Emerging Markets Bond Fund | Annual Report 2020
|
45 |
• | the implementation of the Program was effective to manage the Fund’s liquidity risk; and |
• | the Program operated adequately during the period. |
46 | Columbia Emerging Markets Bond Fund | Annual Report 2020 |
Columbia Emerging Markets Bond Fund | Annual Report 2020
|
47 |
48 | Columbia Emerging Markets Bond Fund | Annual Report 2020 |
Item 2. Code of Ethics.
(a)The registrant has adopted a code of ethics that applies to the registrant's principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party.
(b)During the period covered by this report, there were not any amendments to a provision of the code of ethics that applies to the registrant's principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party, and that relates to any element of the code of ethics definition enumerated in paragraph (b) of this Item.
(c)During the period covered by this report, there were no waivers, including any implicit waivers, from a provision of the code of ethics to the registrant's principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party that relates to one or more of the items set forth in paragraph (b) of this Item.
Item 3. Audit Committee Financial Expert.
The registrant's Board of Trustees has determined that Brian J. Gallagher, Pamela G. Carlton, Anthony M. Santomero, and Sandra L. Yeager, each of whom are members of the registrant's Board of Trustees and Audit Committee, each qualify as an audit committee financial expert. Mr. Gallagher, Ms. Carlton, Mr. Santomero, and Ms. Yeager are each independent trustees, as defined in paragraph (a)(2) of this item's instructions.
Item 4. Principal Accountant Fees and Services.
Fee information below is disclosed for the one series of the registrant whose reports to stockholders are included in this annual filing.
(a)Audit Fees. Aggregate Audit Fees billed by the principal accountant for professional services rendered during the fiscal years ended August 31, 2020 and August 31, 2019 are approximately as follows:
20202019
$29,500 $29,000
Audit Fees include amounts related to the audit of the registrant's annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements for those fiscal years.
(b)Audit-Related Fees. Aggregate Audit-Related Fees billed to the registrant by the principal accountant for professional services rendered during the fiscal years ended August 31, 2020 and August 31, 2019 are approximately as follows:
2020 |
2019 |
$0 |
$0 |
Audit-Related Fees include amounts for assurance and related services by the principal accountant that are reasonably related to the performance of the audit of the registrant's financial statements and are not reported in Audit Fees above.
During the fiscal years ended August 31, 2020 and August 31, 2019, there were no Audit- Related Fees billed by the registrant's principal accountant to the registrant's investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser) and any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the registrant for an engagement that related directly to the operations and financial reporting of the registrant.
(c)Tax Fees. Aggregate Tax Fees billed by the principal accountant to the registrant for professional services rendered during the fiscal years ended August 31, 2020 and August 31, 2019 are approximately as follows:
20202019
$6,400 $6,700
Tax Fees include amounts for the review of annual tax returns, the review of required shareholder distribution calculations and typically include amounts for professional services by the principal accountant for tax compliance, tax advice and tax planning.
During the fiscal years ended August 31, 2020 and August 31, 2019, there were no Tax Fees billed by the registrant's principal accountant to the registrant's investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser) and any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the registrant for an engagement that related directly to the operations and financial reporting of the registrant.
(d)All Other Fees. Aggregate All Other Fees billed by the principal accountant to the registrant for professional services rendered during the fiscal years ended August 31,
2020 and August 31, 2019 are approximately as follows:
2020 |
2019 |
$0 |
$0 |
All Other Fees include amounts for products and services provided by the principal accountant, other than the services reported in paragraphs (a) through (c) above.
Aggregate All Other Fees billed by the registrant's principal accountant to the registrant's investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser) and any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the registrant for an engagement that related directly to the operations and financial reporting of the registrant during the fiscal years ended August 31, 2020 and August 31, 2019 are approximately as follows:
20202019
$225,000 $225,000
In fiscal years 2020 and 2019, All Other Fees primarily consists of fees billed for internal control examinations of the registrant's transfer agent and investment adviser.
(e)(1) Audit Committee Pre-Approval Policies and Procedures
The registrant's Audit Committee is required to pre-approve the engagement of the
registrant's independent auditors to provide audit and non-audit services to the registrant and non-audit services to its investment adviser (excluding any sub-adviser whose role is primarily portfolio management and is sub-contracted or overseen by another investment adviser (the "Adviser") or any entity controlling, controlled by or under common control with the Adviser that provides ongoing services to the Fund (a "Control Affiliate") if the engagement relates directly to the operations and financial reporting of the registrant.
The Audit Committee has adopted a Policy for Engagement of Independent Auditors for Audit and Non-Audit Services (the "Policy"). The Policy sets forth the understanding of the Audit Committee regarding the engagement of the registrant's independent accountants to provide (i) audit and permissible audit-related, tax and other services to the registrant ("Fund Services"); (ii) non-audit services to the registrant's Adviser and any Control Affiliates, that relates directly to the operations and financial reporting of a Fund ("Fund-related Adviser Services"); and (iii) certain other audit and non-audit services to the registrant's Adviser and its Control Affiliates. A service will require specific pre-approval by the Audit Committee if it is to be provided by the Fund's independent auditor; provided, however, that pre-approval of non-audit services to the Fund, the Adviser or Control Affiliates may be waived if certain de minimis requirements set forth in the SEC's rules are met.
Under the Policy, the Audit Committee may delegate pre-approval authority to any pre- designated member or members who are independent board members. The member(s) to whom such authority is delegated must report, for informational purposes only, any pre- approval decisions to the Audit Committee at its next regular meeting. The Audit Committee's responsibilities with respect to the pre-approval of services performed by the independent auditor may not be delegated to management.
On an annual basis, at a regularly scheduled Audit Committee meeting, the Fund's Treasurer or other Fund officer shall submit to the Audit Committee a schedule of the types of Fund Services and Fund-related Adviser Services that are subject to specific pre- approval. This schedule will provide a description of each type of service that is subject to specific pre-approval, along with total projected fees for each service. The pre- approval will generally cover a one-year period. The Audit Committee will review and approve the types of services and the projected fees for the next one-year period and may add to, or subtract from, the list of pre-approved services from time to time, based on subsequent determinations. This specific approval acknowledges that the Audit Committee is in agreement with the specific types of services that the independent auditor will be permitted to perform and the projected fees for each service.
The Fund's Treasurer or other Fund officer shall report to the Audit Committee at each of its regular meetings regarding all Fund Services or Fund-related Adviser Services provided since the last such report was rendered, including a description of the services, by category, with forecasted fees for the annual reporting period, proposed changes requiring specific pre-approval and a description of services provided by the independent auditor, by category, with actual fees during the current reporting period.
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(e)(2) None, or 0%, of the Audit-Related Fees, Tax Fees and All Other Fees paid by the Fund or affiliated entities relating directly to the operations and financial reporting of the Registrant disclosed above were approved by the audit committee pursuant to paragraphs (c)(7)(i)(C) of Rule 2-01 of Regulation S-X (which permits audit committee approval after the start of the engagement with respect to services other than audit, review or attest services, if certain conditions are satisfied).
(f)Not applicable.
(g)The aggregate non-audit fees billed by the registrant's accountant for services rendered to the registrant, and rendered to the registrant's investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the registrant for the fiscal years ended August 31, 2020 and August 31, 2019 are approximately as follows:
20202019
$231,400 $231,600
(h)The registrant's Audit Committee of the Board of Directors has considered whether the provision of non-audit services that were rendered to the registrant's adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the registrant that were not pre-approved pursuant to
paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X, is compatible with maintaining the principal accountant's independence.
Item 5. Audit Committee of Listed Registrants.
Not applicable.
Item 6. Investments
(a)The registrant's "Schedule I – Investments in securities of unaffiliated issuers" (as set forth in 17 CFR 210.12-12) is included in Item 1 of this Form N-CSR.
(b)Not applicable.
Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable.
Item 8. Portfolio Managers of Closed-End Management Investment Companies.
Not applicable.
Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not applicable.
Item 10. Submission of Matters to a Vote of Security Holders.
There were no material changes to the procedures by which shareholders may recommend nominees to the registrant's board of directors.
Item 11. Controls and Procedures.
(a)The registrant's principal executive officer and principal financial officer, based on their evaluation of the registrant's disclosure controls and procedures as of a date within 90 days of the filing of this report, have concluded that such controls and procedures are adequately designed to ensure that information required to be disclosed by the registrant in Form N-CSR is accumulated and communicated to the registrant's management, including the principal executive officer and principal financial officer, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.
(b)There was no change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected,
or is reasonably likely to materially affect, the registrant's internal control over financial reporting.
Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies
Not applicable.
Item 13. Exhibits.
(a)(3) Not applicable.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized. |
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(registrant) |
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Columbia Funds Series Trust II |
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By (Signature and Title) |
/s/ Christopher O. Petersen |
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Christopher O. Petersen, President and Principal Executive Officer |
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Date |
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October 23, 2020 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By (Signature and Title) |
/s/ Christopher O. Petersen |
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Christopher O. Petersen, President and Principal Executive Officer |
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Date |
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October 23, 2020 |
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By (Signature and Title) |
/s/ Michael G. Clarke |
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Michael G. Clarke, Chief Financial Officer, Principal Financial Officer |
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and Senior Vice President |
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Date |
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October 23, 2020 |
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By (Signature and Title) |
/s/ Joseph Beranek |
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Joseph Beranek, Treasurer, Chief Accounting Officer and Principal |
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Financial Officer |
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Date |
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October 23, 2020 |
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Fund Policy - Code of Ethics for Principal Executive and Senior Financial Officers
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COLUMBIA FUNDS |
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Applicable Regulatory Authority |
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Section 406 of the Sarbanes-Oxley Act of 2002; |
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Item 2 of Form N-CSR |
Related Policies |
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Overview and Implementation of Compliance Program |
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Policy |
Requires Annual Board Approval |
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No but Covered Officers Must provide annual |
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certification |
Last Reviewed by AMC |
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June 2020 |
Overview and Statement |
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Item 2 of Form N-CSR, the form used by registered management investment companies to file certified annual and semi-annual shareholder reports, requires a registered management investment company to disclose:
∙Whether it has adopted a code of ethics that applies to the investment company's principal executive officer and senior financial officers and, if it has not adopted such a code of ethics, why it has not done so; and
∙Any amendments to, or waivers from, the code of ethics relating to such officers.
The Board of each Fund has adopted the following Code of Ethics for Principle Executive and Senior Financial Officers (the "Code"), which sets forth the ethical standards to which the Fund holds its principal executive officer and each of its senior financial officers.
This Code should be read and interpreted in conjunction with the Overview and Implementation of Compliance Program Policy.
Policy The Board of each Fund has adopted the Code in order to comply with applicable regulatory requirements as outlined below:
I.Covered Officers/Purpose of the Code
This Code applies to the Fund's Principal Executive Officer, Principal Financial Officer, and Principal Accounting Officer or Controller (the "Covered Officers") for the purpose of promoting:
∙Honest and ethical conduct, including the ethical handling of actual or apparent conflicts of interest between personal and professional relationships;
∙Full, fair, accurate, timely and understandable disclosure in reports and documents that the Fund files with, or submits to, the SEC, and in other public communications made by the Fund;
∙Compliance with applicable laws and governmental rules and regulations;
This document is current as of the last review date but subject to change thereafter. Please consult the online version to verify that this Fund Policy has not been updated or otherwise changed. This Fund Policy is the property of the Funds and must not be provided to any external party without express prior consent from the Fund CCO.
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Fund Policy: Code of Ethics for Principal Executive and Senior Financial Officers
∙The prompt internal reporting of violations of the Code to an appropriate person or persons identified in the Code; and
∙Accountability for adherence to the Code.
Each Covered Officer should adhere to a high standard of business ethics and should be sensitive to situations that may give rise to actual or apparent conflicts of interest.
II.Administration of the Code
The Board has designated an individual to be primarily responsible for the administration of the Code (the "Code Officer"). In the absence of the Code Officer, his or her designee shall serve as the Code Officer, but only on a temporary basis.
The Board has designated a person who meets the definition of a Chief Legal Officer (the "CLO") for purposes of the Sarbanes-Oxley Act of 2002 and the rules promulgated thereunder as the Fund's CLO. The CLO of the Fund shall assist the Fund's Code
Officer in administration of this Code. The Code Officer, in consultation with the CLO, shall be responsible for applying this Code to specific situations (in consultation with Fund counsel, where appropriate) and has the authority to interpret this Code in any particular situation.
III.Managing Conflicts of Interest
A "conflict of interest" occurs when a Covered Officer's personal interest interferes with the interests of, or his or her service to, the Fund. For example, a conflict of interest would arise if a Covered Officer, or a member of his or her family, receives improper personal benefits as a result of the Covered Officer's position with the Fund. Certain provisions in the 1940 Act and the rules and regulations thereunder and the Advisers Act and the rules and regulations thereunder govern certain conflicts of interest that arise out of the relationships between Covered Officers and the Fund. If such conflicts are addressed in conformity with applicable provisions of the 1940 Act and the Advisers Act, they will be deemed to have been handled ethically. The Fund's and its Adviser's compliance programs and procedures are designed to prevent, or identify and correct, violations of those provisions. This Code does not, and is not intended to, repeat or replace those programs and procedures, and conduct that is consistent with such programs and procedures falls outside of the parameters of this Code.
Although they do not typically present an opportunity for improper personal benefit, conflicts may arise from, or as a result of, the contractual relationships between the Fund and, as applicable, its Adviser, administrator, principal underwriter, pricing and bookkeeping agent and/or transfer agent (each, a "Primary Service Provider") of which the Covered Officers are also officers or employees. As a result, this Code recognizes that the Covered Officers will, in the normal course of their duties (whether formally for the Fund or for a Primary Service Provider, or for both), be involved in establishing policies and implementing decisions that will have different effects on the Primary
This document is current as of the last review date but subject to change thereafter. Please consult the online version to verify that this Fund Policy has not been updated or otherwise changed. This Fund Policy is the property of the Funds and must not be provided to any external party without express prior consent from the Fund CCO.
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Fund Policy: Code of Ethics for Principal Executive and Senior Financial Officers
Service Providers and the Fund. The participation of the Covered Officers in such activities is inherent in the contractual relationships between the Fund and the Primary Service Providers and is consistent with the performance by the Covered Officers of their duties as officers of the Fund. If such conflicts are addressed in conformity with applicable provisions of the 1940 Act and the Advisers Act, they will be deemed to have been handled ethically. In addition, it is recognized by the Board of the Fund that the Covered Officers also may be officers or employees of one or more other investment companies or organizations affiliated with the sponsor of the Fund covered by other similar codes and that the codes of ethics of those other investment companies or organizations will apply to the Covered Officers acting in such capacities for such other investment companies.
This Code covers general conflicts of interest and other issues applicable to the Funds under the Sarbanes-Oxley Act of 2002. The overarching principle is that the personal interest of a Covered Officer should not be placed improperly before the interests of the Fund. Certain examples of such conflicts of interest follow.
Each Covered Officer must:
∙Not use his or her personal influence or personal relationships improperly to influence investment decisions or financial reporting by the Fund whereby the Covered Officer, or a member of his or her family, would knowingly benefit personally to the detriment of the Fund;
∙Not knowingly cause the Fund to take action, or fail to take action, for the individual personal benefit of the Covered Officer, or a member of his or her family, rather than the benefit of the Fund;
∙Not use material non-public knowledge of portfolio transactions made or contemplated for the Fund to trade personally or cause others to trade personally in contemplation of the market effect of such transactions; and
∙Report at least annually (or more frequently, as appropriate) known affiliations or other relationships that may give rise to conflicts of interest with respect to the Fund.
If a Covered Officer believes that he or she has a potential conflict of interest that is likely to materially compromise his or her objectivity or his or her ability to perform the duties of his or her role as a Covered Officer, including a potential conflict of interest that arises out of his or her responsibilities as an officer or employee of one or more Primary Service Providers or other funds, he or she should consult with the Code Officer, the CLO, the Fund's outside counsel, or counsel to the Independent Board Members, as appropriate.
This document is current as of the last review date but subject to change thereafter. Please consult the online version to verify that this Fund Policy has not been updated or otherwise changed. This Fund Policy is the property of the Funds and must not be provided to any external party without express prior consent from the Fund CCO.
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Fund Policy: Code of Ethics for Principal Executive and Senior Financial Officers
Examples of potential conflicts of interest that may materially compromise objectivity or ability to perform the duties of a Covered Officer and which the Covered Officer should consider discussing with the Code Officer or other appropriate person include:
∙Service as a director on the board of a public or private company or service as a public official;
∙The receipt of a non-de minimus gift when the gift is in relation to doing business directly or indirectly with the Fund;
∙The receipt of entertainment from any company with which the Fund has current or prospective business dealings, unless such entertainment is business-related, reasonable in cost, appropriate as to time and place, and not so frequent as to raise any question of impropriety;
∙An ownership interest in, or any consulting or employment relationship with, any of the Fund's service providers, other than the Primary Service Providers or any affiliated person thereof; and
∙A direct or indirect material financial interest in commissions, transaction charges or spreads paid by the Fund for effecting portfolio transactions or for selling or redeeming shares other than an interest arising from the Covered Officer's employment, such as compensation or equity ownership.
IV. Disclosure and Compliance
It is the responsibility of each Covered Officer:
∙To familiarize himself or herself with the disclosure requirements generally applicable to the Fund, as well as the business and financial operations of the Fund;
∙To not knowingly misrepresent, and to not knowingly cause others to misrepresent, facts about the Fund to others, whether within or outside the Fund, including to the Fund's Board, Legal Counsel, Independent Legal Counsel and auditors, and to governmental regulators and self-regulatory organizations;
∙To the extent appropriate within his or her area of responsibility, consult with other officers and employees of the Fund and the Primary Service Providers with the goal of promoting full, fair, accurate, timely and understandable disclosure in the reports and documents the Fund files with, or submits to, the SEC and in other public communications made by the Fund; and
∙To adhere to and, within his or her area of responsibility, promote compliance with the standards and restrictions imposed by applicable laws, rules and regulations.
This document is current as of the last review date but subject to change thereafter. Please consult the online version to verify that this Fund Policy has not been updated or otherwise changed. This Fund Policy is the property of the Funds and must not be provided to any external party without express prior consent from the Fund CCO.
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Fund Policy: Code of Ethics for Principal Executive and Senior Financial Officers
V.Reporting and Accountability by Covered Officers Each Covered Officer must:
∙Upon adoption of the Code or becoming a Covered Officer, acknowledge in writing to the Fund's Board that he or she has received, read and understands the Code, using the form attached as Appendix A hereto;
∙Annually thereafter acknowledge in writing to the Fund's Board that he or she has received and read the Code and believes that he or she has complied with the requirements of the Code, using the form attached as Appendix B hereto;
∙Not retaliate against any employee or Covered Officer for reports of potential violations that are made in good faith; and
∙Notify the Code Officer promptly if he or she knows of any violation, or of conduct that reasonably could be expected to be or result in a violation, of this Code. Failure to do so is a violation of this Code.
The Fund will follow the policy set forth below in investigating and enforcing this Code:
∙The Code Officer will endeavor to take all appropriate action to investigate any potential violation reported to him or her;
∙If, after such investigation, the Code Officer believes that no violation has occurred, the Code Officer will so notify the person(s) reporting the potential violation, and no further action is required;
∙Any matter that the Code Officer, upon consultation with the CLO, believes is a violation will be reported by the Code Officer or the CLO to the Fund's Audit
Committee;
∙The Fund's Audit Committee will be responsible for granting waivers, as appropriate; and
∙This Code and any changes to or waivers of the Code will, to the extent required, be disclosed as provided by SEC rules.
VI. Other Policies
This Code shall be the sole code of ethics adopted by the Fund for the purposes of Section 406 of the Sarbanes-Oxley Act of 2002 and the rules and forms applicable to registered management investment companies thereunder. Insofar as other policies or procedures of the Fund or the Fund's Primary Service Providers govern or purport to govern the behavior or activities of the Covered Officers who are subject to this Code, they are superseded by this Code to the extent that they conflict with the provisions of this Code. The Fund's and its Adviser's and principal underwriter's codes of ethics under Rule 17j-1 under the 1940 Act and the more detailed policies and procedures of the
This document is current as of the last review date but subject to change thereafter. Please consult the online version to verify that this Fund Policy has not been updated or otherwise changed. This Fund Policy is the property of the Funds and must not be provided to any external party without express prior consent from the Fund CCO.
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Fund Policy: Code of Ethics for Principal Executive and Senior Financial Officers
Primary Service Providers as set forth in their respect Compliance Manuals are separate requirements applicable to the Covered Officers and are not part of this Code.
VII. Disclosure of Amendments to the Code
Any amendments will, to the extent required, be disclosed in accordance with law.
VIII. Confidentiality
All reports and records prepared or maintained pursuant to this Code will be considered confidential and shall be maintained and protected accordingly. Except as otherwise required by law or this Code or upon advice of counsel, such reports and records shall not be disclosed to anyone other than the Fund's Board, the Covered Officers, the Code Officer, the CLO, the Fund's Primary Service Providers and their affiliates, and outside audit firms, legal counsel to the Fund and legal counsel to the Independent Board Members.
IX. Internal Use
The Code is intended solely for the internal use by the Fund and does not constitute an admission, by or on behalf of the Fund, as to any fact, circumstance, or legal conclusion.
Reporting Requirements
Each Covered Officer must annually acknowledge in writing to the Fund's Board that he or she has received and read the Code and believes that he or she has complied with the requirements of the Code, using the form attached as Appendix II hereto.
The Code Officer or CLO shall report to the Fund's Audit Committee any violations of, or material issues arising under, this Code.
If the Audit Committee concurs that a violation has occurred, it will inform and make a recommendation to the Fund's Board, which will consider appropriate action, which may include review of, and appropriate modifications to: Applicable policies and procedures; Notification to the appropriate personnel of the Fund's Primary Service Providers or their boards; A recommendation to censure, suspend or dismiss the Covered Officer; or Referral of the matter to the appropriate authorities for civil action or criminal prosecution.
All material amendments to this Code must be in writing and approved or ratified by the Fund's Board, including a majority of the Independent Board Members.
The Code Officer, in conjunction with the CLO, shall be responsible for administration of this Code and for adopting procedures to ensure compliance with the requirements set forth herein.
Any issues that arise under this policy should be communicated to an employee's immediate supervisor, and appropriately escalated to AMC. Additionally, AMC will escalate any compliance issues relating to this Code to the Fund CCO and, if warranted, the appropriate Fund Board.
This document is current as of the last review date but subject to change thereafter. Please consult the online version to verify that this Fund Policy has not been updated or otherwise changed. This Fund Policy is the property of the Funds and must not be provided to any external party without express prior consent from the Fund CCO.
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Fund Policy: Code of Ethics for Principal Executive and Senior Financial Officers
Monitoring/Oversight/Escalation
The Code Officer shall be responsible for oversight of compliance with this Code by the Covered Officers. AMC and Ameriprise Risk & Control Services may perform periodic reviews and assessments of various lines of business, including their compliance with this Code.
Recordkeeping
All records must be maintained for at least seven years, the first three in the appropriate Ameriprise Financial, Inc. management office. The following records will be maintained to evidence compliance with this Code: (1) a copy of the information or materials supplied to the Audit Committee or the Board: (i) that provided the basis for any amendment or waiver to this Code; and (ii) relating to any violation of the Code and sanctions imposed for such violation, together with a written record of the approval or action taken by the Audit Committee and/or Board; (2) a copy of the policy and any amendments; and (3) a list of Covered Officers and reporting by Covered Officers.
This document is current as of the last review date but subject to change thereafter. Please consult the online version to verify that this Fund Policy has not been updated or otherwise changed. This Fund Policy is the property of the Funds and must not be provided to any external party without express prior consent from the Fund CCO.
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Appendix A
INITIAL ACKNOWLEDGEMENT
I acknowledge that I have received and read a copy of the Code of Ethics for Principal Executive and Senior Financial Officers (the "Code") and that I understand it. I further acknowledge that I am responsible for understanding and complying with the policies set forth in the Code during my tenure as a Covered Officer, as defined in the Code.
I have set forth below (and on attached sheets of paper, if necessary) all known affiliations or other relationships that may give rise to conflicts of interest for me with respect to the Fund.
______________________________________________________________
______________________________________________________________
______________________________________________________________
______________________________________________________________
______________________________________________________________
______________________________________________________________
______________________________________________________________
______________________________________________________________
I also acknowledge my responsibility to report any known violation of the Code to the Code Officer, the CLO, the Fund's outside counsel, or counsel to the Independent Board Members, all as defined in this Code. I further acknowledge that the policies contained in the Code are not intended to create any contractual rights or obligations, express or implied. I also understand that, consistent with applicable law, the Fund has the right to amend, interpret, modify or withdraw any of the provisions of the Code at any time in its sole discretion, with or without notice.
Covered Officer Name and Title: ________________________________________________
(please print)
______________________________________________________________________________
Signature |
Date |
Please return this completed form to the CLO (_______) within one week from the date of your review of these documents. Thank you!
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Appendix B
ANNUAL ACKNOWLEDGEMENT
I acknowledge that I have received and read a copy of the Code of Ethics for Principal Executive and Senior Financial Officers (the "Code") and that I understand it. I further acknowledge that I am responsible for understanding and complying with the policies set forth in the Code during my tenure as a Covered Officer, as defined in the Code.
I also acknowledge that I believe that I have fully complied with the terms and provisions of the Code during the period of time since the most recent Initial or Annual Acknowledgement provided by me except as described below.
______________________________________________________________
______________________________________________________________
______________________________________________________________
I have set forth below (and on attached sheets of paper, if necessary) all known affiliations or other relationships that may give rise to conflicts of interest for me with respect to the Fund.1
______________________________________________________________
______________________________________________________________
______________________________________________________________
______________________________________________________________
I further acknowledge that the policies contained in the Code are not intended to create any contractual rights or obligations, express or implied. I also understand that, consistent with applicable law, the Fund has the right to amend, interpret, modify or withdraw any of the provisions of the Code at any time in its sole discretion, with or without notice.
Covered Officer Name and Title: ________________________________________________
(please print)
______________________________________________________________________________
Signature |
Date |
Please return this completed form to the CLO (_______) within one week from the date of your receipt of a request to complete and return it. Thank you!
1It is acceptable to refer to affiliations and other relationships previously disclosed in prior Initial or Annual Acknowledgements without setting forth such affiliations and relationships again.
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I, Christopher O. Petersen, certify that:
1.I have reviewed this report on Form N-CSR of Columbia Funds Series Trust II;
2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;
4.The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:
(a)designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
(b)designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
(c)evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and
(d)disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and
5.The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):
(a)all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and
(b)any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.
Date: October 23, 2020 |
/s/ Christopher O. Petersen |
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Christopher O. Petersen, President and Principal |
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Executive Officer |
I, Michael G. Clarke, certify that:
1.I have reviewed this report on Form N-CSR of Columbia Funds Series Trust II;
2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;
4.The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:
(a)designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
(b)designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
(c)evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and
(d)disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and
5.The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):
(a)all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and
(b)any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.
Date: October 23, 2020 |
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/s/ Michael G. Clarke |
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Michael G. Clarke, Chief Financial Officer, |
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Principal Financial Officer and Senior Vice |
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President |
I, Joseph Beranek, certify that:
1.I have reviewed this report on Form N-CSR of Columbia Funds Series Trust II;
2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;
4.The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:
(a)designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
(b)designed such internal control over financial reporting, or caused such internal control
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over financial reporting to be designed under our supervision, to provide reasonable |
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assurance regarding the reliability of financial reporting and the preparation of financial |
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statements for external purposes in accordance with generally accepted accounting |
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principles; |
(c ) |
evaluated the effectiveness of the registrant's disclosure controls and procedures and |
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presented in this report our conclusions about the effectiveness of the disclosure controls |
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and procedures, as of a date within 90 days prior to the filing date of this report based on |
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such evaluation; and |
(d)disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and
5.The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):
(a)all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and
(b)any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.
Date: October 23, 2020 |
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/s/ Joseph Beranek |
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Joseph Beranek, Treasurer, Chief Accounting |
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Officer and Principal Financial Officer |
CERTIFICATION PURSUANT TO SECTION 906 OF
THE SARBANES-OXLEY ACT OF 2002
In connection with the Certified Shareholder Report of Columbia Funds Series Trust II (the "Trust") on Form N-CSR for the period ending August 31, 2020 as filed with the Securities and Exchange Commission on the date hereof ("the Report"), the undersigned hereby certifies that, to his knowledge:
1.The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
2.The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Trust.
Date: |
October 23, 2020 |
/s/ Christopher O. Petersen |
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Christopher O. Petersen, President and Principal |
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Executive Officer |
Date: |
October 23, 2020 |
/s/ Michael G. Clarke |
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Michael G. Clarke, Chief Financial Officer, |
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Principal Financial Officer and Senior Vice |
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President |
Date: |
October 23, 2020 |
/s/ Joseph Beranek |
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Joseph Beranek, Treasurer, Chief Accounting |
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Officer and Principal Financial Officer |
A signed original of this written statement required by Section 906 of the Sarbanes-Oxley Act of 2002 has been provided to the Registrant and will be retained by the Registrant and furnished to the Securities and Exchange Commission (the "Commission") or its staff upon request.
This certification is being furnished to the Commission solely pursuant to 18 U.S.C. §1350 and is not being filed as part of the Form N-CSR with the Commission.